Assume that you are the owner/operator of College Park Veterinary Clinic. At the end of the second year of operations (June 30, 2017), the following financial data for the company are available: 

Required: 

1. Prepare an income statement for the year ended June 30, 2017. 

2. Prepare a statement of retained earnings for the year ended June 30, 2017. 

3. Prepare a balance sheet at June 30, 2017.

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Cash $ 5,000 Accounts Receivable 125,600 Supplies Property and Equipment Other Assets 25,000 242,500 13,500 Accounts Payable Notes Payable 87,000 150,000 Other Liabilities 37,000 Sales Revenue 250,000 185,700 Operating Expenses Selling and Administrative Expenses Advertising and Marketing Expenses Interest Expense Retained Earnings, July 1, 2016 Contributed Capital 53,400 27,800 5,000 50,000 137,000 Dividends 27,500